"SOLUTION A credible minimum income guaranteed system for every one whether they work or not will bring in dignity instead of desperation for the working poor and inheritance taxes will stimulate compassion instead of collusion.
Such system will prevent all socioeconomic issues in India viz farmer suicides, dowry deaths, child labor, fear, frustration, corruption, bribery, prostitution, terrorism etc."
Such a system exists. It's called communism. It has failed miserably. Socialism is dying too... The most steadfast of socialists, France is coming to realize that socialism can do only so much (They have more unemployment than US!).
A point to consider is that in Western Europe (France Germany etc), the fact that the state takes care of its citizens results in armies of people who would make minimum wage in the free market to not attempt to get a job and live off the state's funding. (If you make the same whether you work or not, would you work?)
